Loan Against Property from Mohan Finserv
Do you own property in Chennai and need a financial boost to meet significant expenses? Mohan Finserv offers Loan Against Property (LAP), allowing you to unlock the value of your residential or commercial property without selling it. This secured loan option is ideal for funding business expansion, higher education, medical emergencies, or any other financial requirement. With attractive interest rates and flexible repayment options, LAP provides a dependable solution for your monetary needs.
Loan Process and Procedure for Loan Against Property
Initial Consultation and Eligibility Assessment:
Meet with our financial experts at Mohan Finserv to discuss your financial needs.
Eligibility is determined based on factors like property type, current market value, your income, credit score, and repayment capacity.
We explain the potential loan amount you can avail of, which is typically a percentage (50%-80%) of the property’s market value.
Documentation Submission:
To initiate the application process, you’ll need to provide essential documents, including:
Property documents (title deed, sale agreement, property tax receipts).
Proof of identity and address (Aadhaar, PAN, or passport).
Income proof (salary slips, IT returns, bank statements).
Any other documents relevant to co-owners or guarantors.
Property Valuation and Legal Verification:
Mohan Finserv conducts a thorough valuation of your property to assess its current market value.
Simultaneously, we verify the legality of the property, ensuring it is free from disputes, encumbrances, or pending loans.
This evaluation plays a critical role in determining the final loan amount sanctioned.
Loan Sanction and Agreement:
Once the valuation and verification are completed, we issue a sanction letter outlining the loan amount, interest rate, tenure, and EMI schedule.
Upon agreement, the loan contract is signed, which includes all terms and conditions of the Loan Against Property.
Loan Disbursement:
The approved loan amount is disbursed either in a lump sum or as per your requirements.
The funds can be credited to your account or used to directly clear pre-existing obligations, depending on your preferences.
EMI Payments and Repayment:
Repayment is structured over a flexible tenure ranging from 5 to 15 years.
You can choose between fixed or floating interest rates and make prepayments or full repayment at any stage, subject to minimal charges.
Why Choose Mohan Finserv for Loan Against Property?
Higher Loan Amounts:
Avail of substantial loan amounts based on the market value of your property.
Competitive Interest Rates:
Enjoy attractive and affordable interest rates for a secured loan.
Quick Approval and Disbursement:
Simplified processes ensure faster loan approval and disbursement.
Dedicated Customer Support:
Our experts guide you through each step, ensuring a smooth experience.
At Mohan Finserv, we make it easy to leverage your property’s potential for financial support. Whether you own residential or commercial property in Chennai, our Loan Against Property service is designed to meet your needs with speed, transparency, and flexibility.
Take the first step toward unlocking the true value of your property—connect with us today!